FHA is sending letters to homeowners faced with the serious issue of foreclosure according to this recent news release.
The letters will be mailed out through September to more than 800,000 households. "This letter might be the most important piece of mail many of these families will receive all year," said HUD Secretary Steve Preston.
The threat of foreclosure is a serious issue in Florida. Many home owners who are unable to pay their mortgage payment, are unable to sell the home for what they owe and cannot negotiate a short sale are seemingly left with few choices. The purpose of the FHA letter is to informed distressed home owners that there may be a possible solution in obtaining an FHA loan and offers the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.
Here is the letter:
Dear Homeowner,
Do you need help with your mortgage?
Your area is experiencing a disturbing home foreclosure rate that has accelerated in recent months. News reports cite the damaging effects of "sub prime loans" as a major factor in the unsettled market. By focusing on education and safe mortgage alternatives, though, the Federal Housing Administration (FHA) of the United States Department of Housing and Urban Development (HUD) is working diligently to address this unacceptable foreclosure trend.
Over the past few months, FHA has worked with mortgage loan servicers to identify solutions for the crisis facing current homeowners. Your current mortgage does not have to be FHA insured for you to benefit from our help. If you are facing financial difficulties due to a recent or imminent mortgage reset, or other housing-related difficulty, I urge you to contact us at 1 (800) CALL-FHA or to visit http://www.fha.gov/. There you will have the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.
Many homeowners may also be able to take advantage of our recently announced FHASecure program. This new program allows eligible homeowners to refinance into a secure, fixed-rate FHA loan even if they are in default.
Additionally, a new partnership between mortgage companies and non-profit housing counselors called HOPE NOW is available to you. Their mission is simple: reach out to homeowners who may be having difficulty paying their mortgages. For more information or to see if your mortgage company is a member of this caring coalition please go to http://www.hud.gov/utilities/intercept.cfm?http://www.hopenow.com/.
Again, please contact us at 1 (800) CALL-FHA (800-225-5342) or go to http://www.fha.gov/. As part of the federal government, the Federal Housing Administration wants to help you protect and preserve the American dream - your home.
Sincerely,
Brian D. Montgomery
Assistant Secretary for Housing
Federal Housing Commissioner
Related Florida real estate views:
HUD/FHA deed in lieu eligibility
FDIC warns against mortgage fraud
New law may save your house
- Greg Staker - Watson Realty Corp. - 407-304-0255
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